Addenda Capital Inc. decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 65.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,300 shares of the footwear maker's stock after selling 160,955 shares during the period. Addenda Capital Inc.'s holdings in NIKE were worth $3,495,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantitative Investment Management LLC acquired a new position in NIKE during the 2nd quarter valued at about $2,459,000. Two Sigma Securities LLC raised its holdings in shares of NIKE by 30.9% during the second quarter. Two Sigma Securities LLC now owns 23,129 shares of the footwear maker's stock valued at $949,000 after buying an additional 5,461 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of NIKE by 92.4% during the second quarter. Benjamin Edwards Inc. now owns 200,827 shares of the footwear maker's stock valued at $8,244,000 after buying an additional 96,420 shares during the last quarter. Cacti Asset Management LLC boosted its position in shares of NIKE by 7.7% during the second quarter. Cacti Asset Management LLC now owns 348,782 shares of the footwear maker's stock worth $14,318,000 after buying an additional 24,816 shares during the period. Finally, GTS Securities LLC boosted its position in shares of NIKE by 63.3% during the second quarter. GTS Securities LLC now owns 11,834 shares of the footwear maker's stock worth $486,000 after buying an additional 4,587 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.
Key Headlines Impacting NIKE
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
- Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
- Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
- Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
- Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
- Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. BNP Paribas Exane reiterated an "underperform" rating on shares of NIKE in a research report on Wednesday, July 22nd. Robert W. Baird restated an "outperform" rating and set a $70.00 price objective on shares of NIKE in a research note on Wednesday, July 1st. Weiss Ratings raised shares of NIKE from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, July 17th. Wells Fargo & Company decreased their target price on shares of NIKE from $45.00 to $40.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 1st. Finally, Berenberg Bank set a $49.00 target price on shares of NIKE and gave the company a "hold" rating in a research note on Friday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of "Hold" and a consensus target price of $52.94.
View Our Latest Report on NIKE
NIKE Price Performance
Shares of NYSE NKE opened at $39.57 on Monday. NIKE, Inc. has a twelve month low of $38.17 and a twelve month high of $79.13. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $41.91 and a two-hundred day moving average of $47.01. The company has a market capitalization of $58.70 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.76 and a beta of 1.11.
NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.
NIKE Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.1%. NIKE's dividend payout ratio (DPR) is 78.47%.
Insider Buying and Selling
In other NIKE news, COO Venkatesh Alagirisamy sold 890 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $37,024.00. Following the completion of the transaction, the chief operating officer directly owned 74,820 shares in the company, valued at $3,112,512. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer directly owned 82,165 shares in the company, valued at approximately $3,418,064. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 26,142 shares of company stock worth $1,169,380. Company insiders own 1.10% of the company's stock.
About NIKE
(
Free Report)
Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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